OMERS ADMINISTRATION Corp Reduces Stock Position in Datadog, Inc. (NASDAQ:DDOG)

OMERS ADMINISTRATION Corp trimmed its holdings in Datadog, Inc. (NASDAQ:DDOG) by 26.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,840 shares of the company’s stock after selling 7,626 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Datadog were worth $2,978,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Datadog by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,883 shares of the company’s stock valued at $1,698,000 after purchasing an additional 137 shares during the period. Wedmont Private Capital increased its position in shares of Datadog by 8.3% during the fourth quarter. Wedmont Private Capital now owns 2,149 shares of the company’s stock valued at $302,000 after buying an additional 164 shares during the period. Cooper Financial Group lifted its holdings in shares of Datadog by 10.5% in the fourth quarter. Cooper Financial Group now owns 1,996 shares of the company’s stock worth $285,000 after buying an additional 189 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of Datadog by 26.5% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,834 shares of the company’s stock worth $405,000 after buying an additional 594 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Datadog in the fourth quarter valued at approximately $192,000. Institutional investors own 78.29% of the company’s stock.

Datadog Trading Up 1.5%

Shares of NASDAQ:DDOG opened at $119.09 on Thursday. The company has a market cap of $40.82 billion, a price-to-earnings ratio of 233.51, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The company has a 50-day moving average price of $100.48 and a 200-day moving average price of $125.66.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same quarter in the prior year, the company posted $0.44 EPS. Datadog’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DDOG has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of Datadog from $140.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Wedbush dropped their price objective on Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Needham & Company LLC decreased their target price on Datadog from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Citigroup dropped their price target on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Finally, Morgan Stanley cut their price objective on Datadog from $143.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.54.

Insider Activity at Datadog

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the sale, the executive now directly owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. The trade was a 4.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 107,365 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $109.56, for a total value of $11,762,909.40. Following the transaction, the chief executive officer now owns 435,793 shares in the company, valued at $47,745,481.08. This trade represents a 19.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 559,867 shares of company stock worth $57,550,902 over the last quarter. Corporate insiders own 11.78% of the company’s stock.

Datadog Company Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.